COAL INDIA REPORTED MUTED VOLUME PRINTS FOR THE SECOND CONSECUTIVE MONTH
News: Coal India reported muted volume prints for Sep 2024. Production volume degrew by 1% YoY at 51 million tons (MT) with cumulative production in FY25 on YTD basis reaching to 341 MT (up 2.5% YoY). Similarly, offtake volume stood at 54.4 MT (down 1.4% YoY) and 366.6 MT (up 2% YoY), respectively.
Views: The recent decline in overall production volume growth is primarily due to the erratic rainfall activity amid ongoing monsoon season. However, we remain optimistic about Coal India’s long-term prospects, driven by the company’s ambitious goal of achieving 1000 MT of coal production by FY26, robust demand from the power sector, investments in new technology domains such as coal gasification, inexpensive valuation, and healthy dividend yield.
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